NSW Audit Office - Awareness - Issue 2003 01 - February 2003

AWARENESSccounting and Auditing Developments Issue 1 February 2003AUDIT OFFICE 1AUDIT OFFICE UPDATEUPDATE AUDITOR-GENERAL’S REPORT TO PARLIAMENT 2002, VOLUME SIXACCOUNTING 5The report was released on the 12 December 2002. Significant issues in UPDATEthis volume include:AUDITING UPDATE 6Compliance with aspects of State Records Act 1998 URGENT ISSUES 7GROUP UPDATEOf the 167 agencies reviewed, 40 were totally or almost totally notcomplying with the principles of the Act. Of the few agencies that fully MISCELLANEOUS 8complied, none did so within the deadlines set by the State Records PUBLICATIONSAuthority.LEGISLATIVE 10CHANGES UPDATECompliance with A New Tax System (Goods and Services) Act 1999All of the 15 agencies reviewed were managing GST risk adequately, TREASURY UPDATE 12except some need additional procedures to ensure they can deal with PREMIER’S 15uncommon events and transactions.DEPARTMENT UPDATEOffice of the Protective Commissioner and Public GuardianAUDIT OFFICE 17Funding of the operations of the Office is not equitably borne by all BETTER PRACTICEclients. GUIDESThere is no adequate system to identify, record, manage and report on clients’ non-cash assets not held in the investment funds.The Department of Aboriginal AffairsAAfftteerr ffoouurr yyeeaarrss,, oonnllyy $$3355..88 mmiilllliioonn ooff tthhee $$220000 mmiilllliioonn 99--yyeeaarr AAbboorriiggiinnaall Communities Development Program has been spent.Australian ...